Stellar and Baracoin to Bring Financial Services to Africa

Stellar partnered with Africa's digital currency aiming to create a low cost border free network and get the country out of poverty
06 February 2018   381

Stellar is a platform that connects banks, payments systems, and people aiming to move money quickly, reliably, and at almost no cost. On February 6 Stellar has announced its partnership with Baracoin, which is Africa’s Digital Currency created to provide a state of the art economic ecosystem and deliver modern financial services, from Cape to Cairo, at low cost and to the benefit of both trader and customer.

The partnership is aimed at building a low-cost, border free network that will connect underbanked African merchants and customers through blockchain technology.

As it was stated in Baracoin announcement, Stellar is dedicated to providing low-cost financial access to the unbanked all around the world, and transactions on the Stellar network cost very low, which will allowing Baracoin to lower the cost it passes on to its customers in service charges.

Speaking with the Stellar head of partnerships, Mr Ladipo over the past few weeks, I’ve seen just how committed they are to providing high quality financial services in Africa and have no doubt that this will be a long and fruitful partnership.

Dr Robert Maweni
CEO, Baracoin

Moreover, Stellar was chosen by Baracoin company because of its technical advantages as it is capable of processing 1000 operations every second, with a latency of just 2–5 seconds, and also can protect customers against scams and bad purchases.

At the moment of press, these are main market parameters of Stellar:

Average price: $0,273688 
Marketcap: $5 044 611 863 
24h volume: $324 690 000

Asian Cryptotrading: Top Altcoin is Stellar Lumens (XLM)

During the morning’s Asian trading session Stellar Lumens has become leading-the-way altcoin at present
18 April 2018   126

It has begun the market correction. Morning’s Asian trading session is led once again by Bitcoin which has lost 1% on the day dropping back under $8,000 once again. This fact has trailed most of the altcoins down with it, albeit marginally. One seem to be doing much better than the rest this morning and leading the way at the moment is Stellar Lumens.

According to Coinmarketcap`s report, an 11% gains for XLM during the morning’s trading in Asia. Other altcoins are mostly marginally up or down but very few are showing double numeric gains. Stellar is currently trading at $0.31 up from $0.28 this time yesterday, over the week it has gained 55% from $0.20 the same time last Wednesday. The monthly illustration is even more colorful with Stellar rising over 85% from its low of $0.167 on March 18. In a difference from Bitcoin, XLM is up 12% on the day to 3920 satoshis from 3500 sats this time yesterday. During the past week Stellar has earned 34% against BTC from 2925 satoshis the same time last week.

Stellar charts
Stellar Lumens charts

Momentum has been largely operated by general positive market mood for all cryptocurrencies over the past week as well. Those that had the substantial losses such as Lumens and Cardano seem to have rebounded faster as traders and investors shared up on them at low prices. Many build problems and hackathons announced on their Twitter have kept the community busy and recently the altcoin was listed on Coindirect and Buybit. 

This morning the most of trade in Asia has been on Binance which commands 30% of the total volume. South Korean’s have been involved in it also as Upbit and Gopax are second and third with trade in KRW. General XLM volume has grown over the past 24 hours by over 60% to $121 million. Stellar has continued to be steady in the top ten for some time now and is currently 8th position with a market cap of $5.7 billion. 

Total crypto market cap has kept stable over the past day and at present sits at about  $326 billion. Other Asian trading`s solid altcoins include Nem, Bytecoin and Steem.

Stellar Lumens price at the moment of press: $0,318381
24h volume: $116 864 000
Market cap: $5 911 936 081